CEO Study Reveals Key Supply Chain Trends

PHILADELPHIA, Pa., October 22, 2007 - Dr. Robert C. Lieb, Professor of Supply Chain Management at
Northeastern University, and Vincent Hartnett, President - Penske Logistics, unveiled the latest
findings from an annual survey of CEOs of many of the world's largest third party logistics providers at
today's Council of Supply Chain Management Professionals Annual Conference in Philadelphia. The
research study, conducted annually since 1994, was sponsored this year by Penske Logistics and
looks at trends across three regions: North America, Europe and Asia-Pacific.

This summer, 40 CEOs - 21 from North America, nine from Europe and 10 from Asia-Pacific -
responded to the survey. Findings indicate that while CEOs struggle to retain and attract new talent,
face increased involvement from procurement during the selection process, and are under pressure to
lower prices while increasing service offerings, many are optimistic about global expansion
opportunities and the overall prospect of growth for the industry.

Key insights into the opportunities and challenges facing 3PL providers include the following:

Revenue Growth

CEOs are optimistic about growth prospects, with 87 percent of CEOs saying they exceeded
or met company revenue growth projections in the past year.

40 percent of CEOs reported that their companies were involved in M&A activity in the past
year. This number was especially high in Asia, where six out of 10 CEOs reported that they
had been involved in M&A.

Acquisitions will continue to contribute to revenue growth. In Europe, for instance, CEOs
project that 33 percent of their revenue growth over the next three years will come from M&A.

CEOs were split on the growing involvement of private equity companies in the industry: 56
percent were optimistic about private equity involvement because of the infusion of capital,
while the rest believe that their focus on short-term
gain and financial returns, plus a lack of
focus on the customer, is a negative development.

CEOs anticipate strong demand for logistics services in Asia - the only region where some
CEOs reported that the industry was "very profitable" - while at the same time Asia-based
3PLs are struggling to remain competitive with the emergence of large foreign-based
competitors.

Companies are finding new challenges when they expand abroad to emerging regions,
specifically in the areas of the availability and quality of transportation, regulatory hurdles, real
estate issues and staffing.

Interest continues to grow in the use of a Lead Logistics Provider (LLP). Demand is highest in
Europe, where 77 percent of CEOs reported increased interest.

Talent Shortage

Finding, training and retaining top talent continues to be one of the highestranked
problems
by CEOs.

In North America, the largest percentage of CEOs indicated that they are implementing new
recruitment, training and retention efforts. Of note, 95 percent of these CEOs indicated they
are implementing new training programs.

Procurement Involvement

87 percent of survey respondents indicated procurement is more involved in the logistics
provider selection process than before.

Procurement's involvement is having an impact on the sales cycle according to 41 percent of
respondents who reported a more lengthy process caused by their involvement.

Downward Pricing Pressures

Combined with demands for more service for less, pricing pressures continue to plague the
industry. 87 percent of the companies have taken steps to address those pressures,
including: increased emphasis in value-selling,
focusing on cost reduction as a means of
improving margins, being more selective about what customers to work with, and developing
more specific service menus which emphasize integrated solutions and high-margin,
value-added
services.

Note to Editors: PDF Copies of the survey results from each region are available upon request.

Northeastern University's College of Business Administration, established in 1922, provides its
students - undergraduate, graduate and executive - with the education, tools and experience
necessary to launch and accelerate successful business careers. The College credits its success to
an expert faculty, close partnerships with the industry, and its emphasis on rigorous academics
combined with experiential learning.

The College is highly ranked by several prestigious publications. BusinessWeek ranks the College 26th
in its "Best Undergraduate B schools"
and number one in internships. The College's Bachelor of
Science in International Business program is ranked 16th by U.S. News & World Report. The
undergraduate program is also distinguished by The Princeton Review and Entrepreneur magazine as
one of the top 25 U.S. entrepreneurship programs. Financial Times ranks the College's Executive
MBA program in the U.S. top 50 and U.S. News & World Report ranks the College's part-time
MBA
program number 21 in the country. For more information about Northeastern University's College of
Business Administration, visit www.cba.neu.edu.

About Penske Logistics

Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing, a joint venture of Penske
Corporation and General Electric. Penske Logistics provides supply chain management and logistics
services to major industrial and consumer companies throughout the world. The company has offices
and operations in North America, South America, Europe and Asia. Penske Logistics delivers value through design, planning and execution in transportation, warehousing, international
forwarding and carrier
management. Visit www.PenskeLogistics.com to learn more about the company and its
services.